S&P rates Costa Rica notes B+

S&P said it assigned a B+ rating on Costa Rica’s prospective reopening of its 7.158% notes due 2045 and a B+ rating on its planned offering of notes due 2031.

“The expected combined amount of the reopening and new notes is $1.5 billion – in line with authorization from Costa Rica’s congress to issue up to this amount in eurobonds to cover the government’s 2019 financing needs,” said S&P in a press release.

The country’s congress authorized the government to borrow $500 million from Corporacion Andina de Fomento and $350 million from the Inter-American Development Bank.

The outlook is negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.